OLED Panel Market Size (2024 - 2029)

OLED Panel Market Analysis

The OLED Panel Market size is expected to grow from USD 45.61 billion in 2023 to USD 84.75 billion by 2028, at a CAGR of 13.19% during the forecast period (2023-2028).

OLED is a significant display technology trend, with larger screen sizes, improved 8K (7680 x 4320 pixels) resolution, and relatively new form factors. For quite some time, companies like Samsung and LG have experimented with flexible OLED displays. Samsung, in particular, uses curved flexible OLED panels for all of its flagship devices now.

• OLEDs make it possible for emissive displays, where each pixel is independently controlled and generates its light (unlike LCDs, which get their light from a backlighting unit). OLED displays provide excellent visual quality, including vivid colors, quick motion, and, most significantly, a high contrast ratio. Most notably, "real" blacks (LCDs can't produce due to the illumination). Additionally, the straightforward OLED architecture makes it very simple to manufacture flexible and transparent panels.
• Due to multiple advantages with viewing angles and black levels, OLED Televisions are surging in demand in several regions. According to the ICDM, contrast modulation in qualifying a TV resolution is more critical than pure pixel count, and OLED TV displays cater to this demand.
• Based on market diffusion models, flexible OLEDs are anticipated to observe a high market penetration in the foreseen period. With the maturity of smartphones in many significant markets, such as China, smartphone manufacturers are developing new, foldable phone models that incorporate flexible OLEDs and further have a massive potential for growth over the next few years.
• Mass production enables companies to reach economies of scale, thereby benefiting the device manufacturers by reducing the overall price of the device. Only a few TV manufacturers currently use OLEDs, as the technology is considered too expensive for the mid-range market. Many fitness bands and simple smartwatch devices adopt PMOLED displays.
• For instance, Fitbit's Charge band uses a small monochrome (white) PMOLED display. The thickness, flexibility, and appearance of OLEDs show make it a promising technology for wearable applications over LCDs. Further, based on simple deterministic extrapolation, the demand for quantum dots-based OLED display panels is anticipated to surge exponentially in the forecast period.

OLED Panel Industry Segmentation

The term "OLED" refers to an Organic Light-Emitting Diode, a technology that uses LEDs and emits light made of organic molecules instead of conventional means. The most incredible display panels in the world are said to be made with these organic LEDs. OLED displays are created by sandwiching several organic thin sheets between two conductors. An intense light is produced when an electrical current is supplied. A straightforward layout that has several advantages over other display technologies. The OLED Panel Market is segmented by Type (Flexible, Rigid, and Transparent), Display Address Scheme (PMOLED Displays and AMOLED Displays), Size (Small-sized OLED Panels, Medium-sized OLED Panels, and Large-sized OLED Panels), Products (Mobile and Tablet, Television, Automotive, Wearable), and Geography. The market sizes and forecasts are provided in terms of value in USD for all the above segments.